PrizePicks Secures Operating License in New Hampshire
PrizePicks, a leading fantasy sports operator, has successfully secured an operating license in New Hampshire, marking its 35th market in the United States. This expansion allows the company to offer its fantasy sports games, including its popular “Arena” offering, in a new region.
Adam Packer, the Senior Vice President of Legal and Compliance at PrizePicks, expressed excitement about the new development, stating, “We are thrilled to be able to offer our skill-based fantasy offering to sports fans throughout the Granite State. We are grateful to the New Hampshire Lottery Commission for their thoughtful collaboration.”
Partnership with State Farm Arena
In addition to expanding into New Hampshire, PrizePicks has announced a new partnership with State Farm Arena in Atlanta, Georgia. This partnership will provide PrizePicks with in-arena signage, significantly increasing its visibility among sports fans in the region. This collaboration is expected to bolster the company’s presence in the competitive fantasy sports market.
Executive Leadership Updates
PrizePicks has also made key changes to its executive team, with new appointments aimed at strengthening its leadership. In April, the company announced the appointment of Renee White as the Chief People Officer (CPO) and Phil Sherwood as the Senior Director of Responsible Gaming. These appointments reflect PrizePicks’ commitment to enhancing its organizational culture and promoting responsible gaming practices.
New Hampshire Sports Betting Market Performance
Meanwhile, New Hampshire’s sports betting market has shown mixed results. In May, the state’s total sports betting handle reached $58 million, an 11.3% increase compared to May 2023. However, this figure represents a 3.2% decline from April’s total. Despite the overall increase in handle compared to the previous year, May marked the second consecutive month of decline in the state’s sports betting market.
Of the $58 million wagered in May, $51.7 million came from online betting, while $6.3 million was placed at retail sportsbooks. Revenue for the month was reported at $6.5 million, which is 7.1% lower than the same period last year, despite the higher overall spend. However, the revenue was 22.6% higher than in April, indicating some month-to-month improvement.
Breaking down the revenue, $5.9 million was generated from online betting, and $652,270 came from the retail sector. The data highlights the dominance of online betting in the New Hampshire market, which aligns with broader trends seen across the United States.
PrizePicks’ recent expansion into New Hampshire, alongside its new partnership with State Farm Arena and executive appointments, signals a strategic growth phase for the company. While the New Hampshire sports betting market has shown both growth and decline in recent months, the increased handle and revenue from online betting underscore the continuing popularity of digital platforms in the sports betting industry.